Buy Tata Consumer Products, target price Rs 640: ICICI Direct

ICICI Direct has buy call on Tata Consumer Products with a target price of Rs 640. The current market price of Tata Consumer Products Ltd. is Rs 617.85.

Tata Consumer Products Ltd., incorporated in the year 1962, is a Large Cap company (having a market cap of Rs 57007.19 Crore) operating in FMCG sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 3089.05 Crore, up 10.03 % from last quarter Total Income of Rs 2807.56 Crore and up 22.51 % from last year same quarter Total Income of Rs 2521.50 Crore. Company reported net profit after tax of Rs 237.03 Crore in latest quarter.

Investment Rationale
Price sustaining above its 20 EMA over past two weeks coincided with recent breakoutarea of Rs 630